Does this violate horizontal equity

Reference no: EM131490663

Question: In California, property values are reassessed only after a sale has taken place. For properties that have not been sold in the past year the law allows only a small increase in the assessed value. Consequently, someone who purchased his home many years ago likely has a lower property tax bill than someone who purchased an identical home recently. Does this violate horizontal equity? In your answer, carefully define all key concepts.

Reference no: EM131490663

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